The UAE has taken a cutting edge in health infrastructure. In the Emirates, medical facilities are modern and easily accessible for both permanent residents and expats alike. One of the top priorities of the government of the United Arab Emirates is the successful establishment of a first-class healthcare infrastructure. Dubai is the second most popular location for medical tourism. It was ranked 2nd by the World Bank.
The World Health Organization announced that the 1/3rd of the adult population in Dubai suffers from obesity and 1 out of 5 people live with diabetes. Due to the rise in these disorders and diseases and the fact the citizens do possess a higher average income, they are demanding a greater quality of healthcare. So, the government of Dubai is focusing to address this issue. The Dubai Healthcare Authority (DHA) has published a new guide for investors as it solicits to increase investment in the private sector of healthcare.
Healthcare Industry in the UAE
The healthcare sector in UAE is a mixed private-public system. The public system has a consolidated management along with a growing scope for private sector in urban centres.
In Dubai if you are not covered by private health insurance, it is mandatory that you apply for a health card, which designates you to low cost treatments at government hospitals and clinics which are primarily issued by the DHA.
The UAE’s healthcare expenditure reached AED 62.2 billion in 2017, and as for 2018, the expenditure is expected to reach over AED 65.7 billion. By 2022, it is anticipated to rise to AED 83.1 billion. Consequently, the amount spent on overall healthcare is projected to account for 5% of country’s GDP by 2027, from up from 4.7% in 2017.
The Dubai Health Investment Guide 2018-25
A new guide has been developed by the DHA with an aim to provide insights of investment opportunities and the upcoming process and reforms which will indeed help investors support their decision of investment and as well opportunities to set up a healthcare business in Dubai for need-based investment in healthcare.
The guide will help the government to figure out the gaps in the healthcare system as the first concern in the coming years. It has been made to bridge the gap between specialities and services. Revolution in primary care models, supremacy in specific specialities, home-based care and rehabilitation centres are the key areas for investment and setting up a business in Dubai.
It is a win-win situation for both investors and the healthcare sector as the clincher is to invest where there is lack of services or where the opportunities grow because ultimately, it stimulates to promote investment in the healthcare sector.
DHA’s Investment Focus for the Next 2-3 Years
- Revolution in primary care
- Urgent care clinics
- Mental health
- Rehabilitations centres
- Home-based care
- Tertiary care for diabetes
DHA’s Support for Investors and Healthcare Providers
- Valuable information on services, supply and capacity gaps on demand and in real time to suit your informational needs
- Help to get the right information on investment mandates
- Assistance on green field investments exceeding AED 100 million
- Stakeholder workshops on sanctioning policy change to enable priority investment
With the rapid growth of technology, an array of opportunities is unfolding. The healthcare sector is one of such opportunities, and with the future prognosis for the blockchain technology, it can be applied to the entire healthcare value chain, promising greater room for research and innovation in the field.
Commitbiz is one of the premier consulting firms helping entrepreneurs and firms with company incorporation, accounting, bookkeeping, audit, intellectual property protection and corporate secretarial services in Dubai. If you are planning to invest in the healthcare industry in the UAE, we can assist you with any guidance on the local healthcare industry and the pertinent regulations. To know more, contact us – we’d be happy to help.
